Eight men on Monday appeared in a Yaba Chief Magistrates’ Court for allegedly stealing 121 bags of PVC materials worth N102.5 million.
The police charged Benjamin Effiong, 30; Giwa Olayemi, 30; Michael Igbudu, 30; Ranti Akinola, 32; Sunday Elien, 32; Opeyemi Abidemi, 31; Benjamin Akachukwu, 20; and Azeez Alao, 40 with conspiracy and theft.
They all pleaded not guilty to the charge.
The Prosecution Counsel, ASP Rita Momah told the court that the defendants committed the offence sometime in August, at Yuntay Plastics and Technologies, 48/50, Alimosho Road, Alaguntan, Iyana Ipaja.
She alleged that the defendants stole 121 bags of PVC raw chemical materials worth N102.5 million.
The offence, she said, contravened the provisions of sections 285 and 411 of the Criminal Law of Lagos State, 2015.
The Chief Magistrate, Mrs Adeola Adedayo granted the defendants bail in the sum of N5 million with two sureties each in like sum with proof of tax payment to the State government for the last three years.
She adjourned the matter until Oct. 10.